Business Administrations Exam 1 Questions and Correct
Answers (Verified Answers) Graded A+ | New Update
2026/2027
What is Global business - ANSWERS Business around the globe. This includes
foreign and domestic business.
Foreign Direct Investments - ANSWERS Investment made by a foreign
company in the economy of another country. captive sourcing
G-20 - ANSWERS The group of 19 major countries plus the European Union
(EU) whose leaders meet on a biannual basis to solve global economic problems.
Why study Global Business - ANSWERS International Premium, enhance your
employability and advance your career in the global economy, better preparation
for possible expatriate assignments abroad, stronger competence in interacting
with foreign suppliers, partners, and competitors, and in working for foreign-
owned employers in your own country
Unified Framework - ANSWERS Institution base view: formal and informal
rules of the game
+
resource-based view: firm specific resources and capabilities
=
, fundamental question: what determines the success and failure of firms around
the globe?
Formal based view - ANSWERS laws, regulations, rules
Informal based view - ANSWERS norms, culture, ethics
Resource based view- - ANSWERS Resource based view- The resource-based
framework that focuses on the value VRIO aspects of resources and capabilities.
VRIO - ANSWERS Value, Rarity, Imitability, Organization
A framework for analyzing a resource or capability to determine its competitive
strategic potential
Globalization - ANSWERS Actions or processes that involve the entire world
and result in making something worldwide in scope. [pendulum]
Emerging Economy - ANSWERS smaller economies that are typically forming
pretty fast, they are trying to become leading economies, refers to fast growing
developing countries
Base of Pyramid Economy (BoP) - ANSWERS Less than $2,000 per capita
income per year (low pyramid) like South America
Answers (Verified Answers) Graded A+ | New Update
2026/2027
What is Global business - ANSWERS Business around the globe. This includes
foreign and domestic business.
Foreign Direct Investments - ANSWERS Investment made by a foreign
company in the economy of another country. captive sourcing
G-20 - ANSWERS The group of 19 major countries plus the European Union
(EU) whose leaders meet on a biannual basis to solve global economic problems.
Why study Global Business - ANSWERS International Premium, enhance your
employability and advance your career in the global economy, better preparation
for possible expatriate assignments abroad, stronger competence in interacting
with foreign suppliers, partners, and competitors, and in working for foreign-
owned employers in your own country
Unified Framework - ANSWERS Institution base view: formal and informal
rules of the game
+
resource-based view: firm specific resources and capabilities
=
, fundamental question: what determines the success and failure of firms around
the globe?
Formal based view - ANSWERS laws, regulations, rules
Informal based view - ANSWERS norms, culture, ethics
Resource based view- - ANSWERS Resource based view- The resource-based
framework that focuses on the value VRIO aspects of resources and capabilities.
VRIO - ANSWERS Value, Rarity, Imitability, Organization
A framework for analyzing a resource or capability to determine its competitive
strategic potential
Globalization - ANSWERS Actions or processes that involve the entire world
and result in making something worldwide in scope. [pendulum]
Emerging Economy - ANSWERS smaller economies that are typically forming
pretty fast, they are trying to become leading economies, refers to fast growing
developing countries
Base of Pyramid Economy (BoP) - ANSWERS Less than $2,000 per capita
income per year (low pyramid) like South America
